Posted on 05/17/2024 9:14:27 PM PDT by SeekAndFind
Probably before taxes which that POS proposes goes up by removing the trump tax cuts. Note the headline says comfortably not for subsidence. Regardless we are so screwed.
Why is the stock market so high some say? Simple now that home prices have gone as high as finance will support, it is a proxy for hoarding the worthless currency. Bidet has that covered too as he wants increase in cap gains tax. IOW you are not going to live on your nest egg. The US will declare chapter 7 soon, pardon the pun: don’t bank on it.
This was foreseen, and intended.
The progressive loss of buying power of the dollar is theft. It renders all savings equal — equal to zero, thus eliminating the middle class, as is their intention.
By forcing the middle class to concentrate on their survival, the left can more easily make this country more communist, and more dictatorial. As is their intention.
Where do you live?
I worked in Clarksdale MS for half a year in 2022. It does NOT take $177,000 to live there. I suppose it could if you include the purchase price of a single-family home.
Good grief! How many families make that kind of money? I would think there are probably not that many. What if it is a family of 5 or 6? What exactly do they mean by living “comfortably”?
“What exactly do they mean by living “comfortably”?”
Each kid gets their own room. Family eats out once a week and takes a Disney trip once a year. In other words, a life style no middle-class family had.
In the 1950’s Levit build enormous sub-divisions with 3 bedroom 1 bathroom homes. Living in these homes was considered a middle-class life style.
Expectations out-weigh reality now-a-days for young people.
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Depends on where you live and how much debt you carry. The only debt I have is my mortgage and that’s under $800 a month including taxes and insurance. Since I’m over 65 my county exempts me from the school tax. I use a credit card extensively but pay off the balance in full each month. I’m retired and my total income, including my wife’s social security is under $60,000. We live comfortably because I learned from my past mistakes.
Good grief! How many families make that kind of money? I would think there are probably not that many. What if it is a family of 5 or 6? What exactly do they mean by living “comfortably”?
I read that in Earls voice
“it takes $177,798 for a family of four to live comfortably in the United States.”
That number includes weekly support for a Las Vegas bookie, a Thai bar girl and her family in Pattaya and a neighborhood drug dealer in the hood.
New York unfortunately. I grew up in New York city, escaped in 2010, moved to Penn. now I am living on Long Island, Suffolk county to care for my mom who is in the last stages of dementia while I pay her poperty taxes and everything else through the freakin’ nose. Her house has a valuation of a million so I am paying $22,700 per year in property taxes, it ticks me off to no end, just absolute robbery and when she passes and I have to put the house up for sale, I don’t even need to guess the state is also going to take a huge chunk of that in taxes as well as if they own it. I cannot WAIT to get the hell out of this absolute pisshole of a state.
If your Mother leaves the house to you at a value of a million, and you sell it for the stepped up value of a million, you will owe zero income taxes.
No federal estate taxes, and none for under something like 6 million in New York.
One of the greats.
Wow that’s good news. I haven’t looked into it at all. So I guess anything over that million is taxed? Well I’ll have to see what happens after the election, if Biden steals it then I assume property owned under a tyrannny will take on a whole new reality.
The house will be valued at date of passing. If you sell much later, then any amount over that valuation will be a taxable gain on your income taxes.
And deliberate choking of the energy supply.
The decommission of the petroleum infrastructure will mean certain death for America and the citizens.
OK thanks so much for the info!
Not in parts of the Midwest / Great Plains.
Now, you may have to drive 30 or 40 miles to the nearest Wal Mart. But you won’t be dead or robbed.
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